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2024-03-31-accounts

Coram Beanstalk

Annual Report and Financial Statements

31 March 2024

Company Limited by Guarantee Registration Number 02101719 (England and Wales) Charity Registration Number 296454

Contents

Reports

Reports
Reference and administrative information 1
Chairman’s statement 2
Trustees’ report 3
Independent auditor’s report 15
Financial statements
Statement of financial activities 20
Balance sheet 21
Statement of cash flows 22
Principal accounting policies 23
Notes to the financial statements 27
Appendix
Comparative statement of
financial activities 32
Comparative notes to the
financial statements 33

Coram Beanstalk

Reference and administrative information

Patron Her Majesty The Queen
Trustees Jill Pay (Chairman)
Hanif Barma (Treasurer)
Saana Karki
Sharon Lambert
Philip Nelson
Stefano Maifreni
Company Secretary Carol Homden CBE
Senior Management Team
Coram Beanstalk Head of Service Amy Lewis
Managing Director of Education and Wellbeing Harriet Gill
Company registration number 02101719 (England and Wales)
Charity registration number 296454
Registered office Coram Campus
41 Brunswick Square
London
WC1N 1AZ
Auditor Buzzacott LLP
130 Wood Street
London
EC2V 6DL
Bankers National Westminster Bank plc
Moorgate Branch
94 Moorgate
London
EC2M 6UR
CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

Coram Beanstalk 1

Chair’s statement Year to 31 March 2024

It is clear from published trends and evidence that there is a crisis in school attendance with regular absence now affecting the learning and development of 20% of the country’s children.

Whilst many young people are highly effective readers and learners, all too many are struggling to develop their confidence with all the consequences this brings for their future, and our new research with Mumsnet shows that many children never choose to pick up a book to read for pleasure.

50 years after the establishment of Coram Beanstalk as Volunteer Reading Help, our work has never been more needed and our trained volunteers this year supported 8,000 children across the country with one-to-one in-person reading sessions.

The impact report, Reading Results, published to mark our 50th anniversary clearly shows the difference they make to reading confidence, to school engagement and attainment, and to children’s emotional and social development.

Yet pressure on schools is also at an all-time high and many feel they do not have the resources they need to be able to access the more intensive support children need.

It is to help with this, that – as well as recruiting, training and supporting 1,000 volunteers giving 110,000 hours of support in primary schools - Coram Beanstalk has pioneered the Reading Leaders programme so that young people in senior schools are trained to support their younger peers.

Taking part and gaining recognition in the Duke of Edinburgh Award programme provides these young people with vital skills for their own career as well as building the capacity of reading communities across the country because ‘Life Changes When You Choose Reading’.

Every day Coram Beanstalk creates more young readers, and this is only possible because of the dedication of our volunteers and staff and the vision and engagement of schools across the country, benefitting also from the generosity of our supporters who make our work possible.

On behalf of all the children exploring new worlds through the books they now read – thank you.

Jill Pay

Chairman

Coram Beanstalk 2

Trustees’ report Year to 31 March 2024

The Trustees, who are the directors for company law purposes, present their report and financial statements of Coram Beanstalk for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out on pages 233 to 26 and comply with the charitable company’s Memorandum and Articles of Association, applicable law and Accounting and Reporting by Charities: Statement of Recommended Practice (the Charities SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

This report has been prepared in accordance with Part VIII of the Charities Act 2011.

Scope of the financial statements

The annual report and financial statements are in respect to Coram Beanstalk as a standalone charity only.

Coram Beanstalk is part of the Coram Group. The Thomas Coram Foundation for Children (Coram), Registered Charity No. 312278, which is the ultimate controlling party, consolidates the financial statements of Coram Beanstalk with its own and those of other group members. Coram Beanstalk has a wholly owned subsidiary company, VRH Trading Limited (Company Registration Number 02835527) which was dormant throughout the period.

Objectives and activities

Coram Beanstalk’s objective is to advance the education of children particularly by helping them to overcome reading difficulties. The main activity of the charity is to provide one-to-one literacy support to children aged 3 to 13 years old. Our volunteer reading helpers work with children who are falling behind with their reading to improve their literacy as well as their communication skills and confidence. The schools we work with pay a contribution to Coram Beanstalk for high quality, good value and bespoke reading support.

Public benefit

The Trustees have had regard to the Charity Commission’s guidance on public benefit when considering the charitable company’s aims and achievements.

Coram Beanstalk has made available resources and helpful information online to teachers and parents to reach children who do not benefit from our one-to-one support. Our myth busting film has been shared and viewed over 800 times. We have continued our Book of the Month selection to showcase books that fit well with our approach and developed activity sheets for World Book Day 2023.

Volunteers and Donated services

We are truly grateful to all of our volunteers who donate their time every week to support children with their literacy skills and without whom we would not be able to provide such a vital service.

We are also extremely thankful to the various organisations and individuals who have financially supported us and hosted Coram Beanstalk meetings throughout the period, who have provided us with invaluable legal and other advice across a variety of subjects and who have kindly donated prizes for fundraising events.

Coram Beanstalk 3

Trustees’ report Year to 31 March 2024

Achievements and performance 2023-24

This year at Coram Beanstalk, we have worked with 661 schools and 1,287 volunteers to bring one-to-one reading support to 7,874 children and young people.

We published an impact report demonstrating the value over our 50 years to children, schools and volunteers and continued to lay solid foundations for future growth in our mission to create readers and bringing one-to-one in person reading support to children across Early Years, Primary and Secondary education stages.

Early Years innovation

In Early Years, we have secured funding from the Mercers’ Company as trustee of the Charity of Sir Richard Whittington to develop a parental engagement programme in collaboration with Coram Family and Childcare (CFC). ‘Books Together’ brings activity sessions to parents and their young children in boroughs across London to encourage a love of reading in the home in the context of growing concern for children’s oracy and literacy as they approach school.

Initial sessions have been well received and are reaching parents who may not otherwise engage with this type of provision via CFC’s established parent champion network, a ground breaking initiative to engage and support children in the community:

"It was much better than I expected, my child was very engaged throughout all sessions. I have learned a lot and very pleased to discover new things my child enjoys in the way we read."

Comment from a parent about our Books Together sessions

Primary focus

Our core volunteer programme is active in primary schools across England, attracting a range of people reflecting their local communities to provide vital in person support to children who are struggling with their reading confidence. At Coram Beanstalk, we are focussed on building robust 3-way relationships with school and the volunteer to bring focused, individualised support to a diverse range of children.

We have refreshed our starter pack of books to ensure a range of titles and diversity to appeal to even the most reluctant of readers. As one boy in Year 6 said to his reading helper: “everybody else we read with is BORING!” A year 3 girl put it this way: “I remembered you were here on Thursdays, and I couldn’t wait to get to school today.”

In our most recent survey, 98% of schools say they are happy with their experience of Coram Beanstalk, and teachers report that 97% of children are making progress towards age-related expectations.

“Our Beanstalk readers have really helped the children develop a love of reading and the children are overjoyed to see their supporter each week for their sessions. They are happy to leave the classroom and often come back full of confidence and wanting to share their experiences with the other children in the class. It has shown the children a different side of reading to that which they get in the classroom which is a real benefit.”

Comment from a primary school teacher

Coram Beanstalk 4

Trustees’ report Year to 31 March 2024

Achievements and performance 2023-24 (continued)

Primary focus (continued)

Every day we see and hear the difference that is being made by volunteers to children’s love of reading, their vocabulary, understanding, personal confidence and engagement.:

“I just want to share an encouraging thing that happened at Newker School yesterday because it warmed my heart and is a real testimony to the impact Beanstalk can have. World Book Day fell just as I was working through a very moving poem from one of my Beanstalk books with one of the more excitable children. His mind is so active that I was looking for something he could get his teeth into and tried Barbara Frietchie by John Greenleaf Whittier. We read it, drawing the scenery, acting out the marching feet, unpacking the meaning behind the older words such as "four score years and ten" and over four half-hour sessions we finished it on World Book Day. So I asked the headteacher if he could read it to her, being World Book Day. She couldn't make it then but she came yesterday, which just gave me a session to help him slow down and not trip over the words, in his excitement about knowing what all these new words meant! We tapped out the poetic rhythm and set about reading to the beat, tapping the table as we went, and he got the measure and beat of how to read it, then when the Head arrived, he read it to her so beautifully. He told her that the best bit for him was how even hardened hearts could be stirred and softened by courageous acts, and he came up with and told her his own excited analogy for what he thought the poem was like; he said that it was like a tightly scrumpled ball of paper that didn't look like it contained much, but when you opened it up and unpacked it each line contained so much! As Yoda would say: "Proud of him I am" Thank you for the opportunity to do such precious work.”

Comment from a reading helper about a child she supports

Secondary advancement

In secondary schools, we have seen expansion of our Reading Leaders programme. This delivers training to KS4/5 students to equip them with the knowledge, structure and confidence to provide peer mentoring to younger pupils in KS3.

Schools are valuing the career skills development and Duke of Edinburgh award elements for their older students and seeing reading progress and confidence improvements for both groups of students. We have also benefitted from funding from The Symondson Foundation that has allowed 17 Lancashire schools to take part this year.

Coram Beanstalk 5

Trustees’ report Year to 31 March 2024

Achievements and performance 2023-24 (continued)

Secondary advancement (continued)

“We have been so impressed with the impact that the course has had - both in terms of our students' reading ability and in relation to their compassion, confidence and sense of school community.

I wanted to let you know about the trip that we have been able to run with our reading partners…

As we walked to Waterstones, I overheard one of the Year 7 students say that she'd never been to a bookshop before, and her Year 10 Leader spoke to her so kindly about what it would be like and told her that she knew 'all the best parts of the bookshop' that she wanted to show her. It was just such a lovely moment that really exemplified for me what the whole programme has been about.

Our Y7s have truly developed a love of reading beyond anything we could have imagined before we joined the course. When we have tried to run peer reading interventions in the past, the students sometimes thought of them as just an 'extralesson' or even something that proved that they 'weren't good at reading' - but the whole experience for the students this term has been completely different. They have seen these reading sessions as more of a privilege or a treat, and they really value the support their Year 10 Leaders have given them. Similarly, I think the whole process has given our Y10s a real appreciation for reading - and an understanding that it doesn't come naturally to everyone, or even is something that all students have access to at home. They have grown in their compassion and sense of social responsibility, and I could not be more proud of their work.

Thank you again for this opportunity!”

Secondary English lead about our Reading Leaders programme

It is our aim now to expand the programme further to build the leadership and social opportunities for young people enhancing their career progress as well as interpersonal capabilities.

“For me, the whole experience of becoming a peer reader has been a fantastic way of improving my skills and meeting new people. This experience came with some challenges that I had to overcome. One of the biggest challenges was heightening my social skills, talking to people who I am not familiar with has been a large factor that I’ve had to overcome, however, this course has given me the confidence to be able to approach others with little to no fears, and that’s been a massive achievement for me within my social skills!”

Comment from a Reading Leader

Coram Beanstalk 6

Trustees’ report Year to 31 March 2024

Achievements and performance 2023-24 (continued)

Our people and approach

Coram Beanstalk is a charity with people at the centre of all its work and this past year has seen real energy coming from the staff team. We have added three new posts into the team to increase learning and development and growth capacity. All roles have been involved in development activities with a weekly team meeting building connection and knowledge and a team away day reinforcing confidence in messaging and forward thinking. We have also invested in individual training to improve management skills, sales and business analysis.

Volunteers remain proud ambassadors for our charity. We are working to ensure they have a positive and rewarding experience with us as well as delivering excellent support to the children they help, and 98% of volunteers feel the time they give is well used.

With our new Learning & Development Manager in post, we have refreshed our initial training, suite of learning, development courses and online resources. We are delighted that 98% of volunteers found their initial training helpful and 96% of schools say reading helpers show expertise in their role. Investment in retention activities has resulted in over 300 less volunteer leavers when compared to the previous year.

“I’ve been really impressed with the efficiency of everyone at Coram Beanstalk and the speed with which issues are dealt with and questions answered. Also by the amount of helpful and supportive information on your website. The training is very good and interactive and the trainers are inspirational. Well Done Everyone”

Comment from a new volunteer about our onboarding journey

Connection is vital for many of our volunteers as they take pride in being part of something bigger. We are continuing to build our peer-to-peer network across England to bring volunteerled local meet ups to places where we have clusters of reading helpers, and in September delivered our first ever hybrid event with speakers at the Coram Campus being live-streamed to reading helpers across the country.

Feedback shows that 97% of volunteers value their connection to Coram Beanstalk and 98% would recommend being a reading helper to a friend.

One of the challenges we face is ensuring enough people know about our work in order to engage with it as a new school, volunteer or funder. Our website has seen 38,000 visitors in the last year but raising awareness of our work is a priority. We have shared content across social media channels to tell the stories of children we have helped, and designed and promoted our impact report celebrating 50 years of reading results, sending it to over 400 primary schools.

We have engaged with World Book Day 2024, collaborating to develop activity sheets for each of the World Book Day books. This brought the importance of book chat into homes across the country, with the resources reaching over 29,500 downloads. We have continued to promote our Book of the Month to share a monthly themed selection of titles with teachers and parents.

Coram Beanstalk 7

Trustees’ report Year to 31 March 2024

Achievements and performance 2023-24 (continued)

Our people and approach (continued)

We have welcomed many authors to speak with our reading helpers via online talks and with over 300 children at Beanstalk BookFest 2023, held at Frances Holland School and, for the first time in Liverpool, at The Very Group HQ. We are, once again, the charity partner of The Bright Agency’s annual Alligator’s Mouth book award, who asked us to host a special competition giving schools a chance to win the longlisted titles on our website driving new visitors to the site.

50 years of reading results

The 50[th] anniversary of Coram Beanstalk’s formation by Susan Belgrave was launched with a visit by our Patron, Her Majesty The Queen in February 2023.

We published an impact report for our one-to-one reading support programmes using information from school and volunteer surveys in September 2023. The report showcased the achievements over five decades of reaching some 250,000 children with 14,000 volunteers and a value in their time to the school economy of some £131 million.

This year as well as gathering information about improvements in reading attainment, we reported strong impact on children’s wellbeing and speech and language skills with our commitment to a child-centred approach.

Coram Beanstalk 8

Trustees’ report Year to 31 March 2024

Risk management

The Trustees have identified the major risks to which the charity may be exposed and consider that the systems in place are adequate to mitigate those risks. The Trustees have formalised procedures in place for reviewing risks each year. The key risks that the charity faces, along with the relevant mitigating actions, are:

Financial review and reserves policy

Coram Beanstalk made an overall deficit for the year of £1,809 (2023: surplus of £366,055). The decrease in surplus this year was mainly as result of a decrease in fundraising income compared to the prior year.

Coram Beanstalk aims to hold a reserve of six months’ budgeted expenditure as its general reserve. This will:

Coram Beanstalk 9

Trustees’ report Year to 31 March 2024

Financial review and reserves policy (continued)

At the end of the 2023/24 financial year our total unrestricted funds stood at £682,018. General reserves of £184,459 are held as designated funds to be used for the purpose of investment in specific projects which will increase our sustainability. With the exclusion of reserves represented by fixed assets and designated funds, the free reserves of the charity at 31 March 2024 were £492,559 (2023: £421,324) compared to a target of £481,658.

Trustees recognise the need to regularly monitor reserves alongside financial performance to ensure an adequate level of reserves is maintained. This policy will be reviewed annually in the light of (i) any gap between target and actual reserves, (ii) progress with any actions which may be required to ensure adequate reserves are maintained and (iii) changing uncertainties in the external environment.

What we will do in the year 2024/25

We know that children continue to need one-to-one support and we are uniquely placed to deliver our programme in person, through our three programmes for early years, primary and secondary settings.

With a refreshed business plan in place, and a budget that combines earned and fundraised income to offer value to schools and stability to the charity, we will continue to build on our solid foundations with a focus on themes of promotion, quality and added value to create readers over the next year.

Our Books Together programme will expand into a further 3 London boroughs, we will deliver 70 Reading Leaders courses and have at least two reading helpers active in 70% of our partner primary schools.

Promotion will focus on the launch of a campaign to coincide with a new film produced through a project with the Media Trust supported by the Mercers’ Company. Our key message is ‘Life changes when you choose reading’ and we are aiming to raise awareness of the importance of children choosing to read, as reflected in our own approach with children across England. We will extend our author supporter network and improve visibility of our brand in partner schools.

Quality will focus on continuing to enhance our learning and development offer for volunteers through further improvements to our online portal, investment in our training team and continuing to extend our peer-to-peer network across England. We will host a hybrid event for volunteers with key speakers reinforcing our reading for pleasure message.

We will ensure that we maximise benefits for our partner schools; launching live sessions and recorded content for parents, extending BookFest to a further location and providing schools with ‘ready to go’ resources to support busy teaching staff. We would love to increase our book gifting in schools and will seek collaboration or funding to enable this.

Coram Beanstalk 10

Trustees’ report Year to 31 March 2024

What we will do in the year 2024/25 (continued)

The team are energised and excited, we have a clear message to engage people with our work and are creating a movement to boost public knowledge of what we do. All of the people engaged with us can help with this, by letting people know that Coram Beanstalk creates readers, because life changes when you choose reading.

Structure, governance and management

Coram Beanstalk was established in 1973. The organisation is a charitable company limited by guarantee, incorporated on 19 February 1987, Company Registration Number 02101719 (England and Wales) and registered as a charity on 4 July 1991 Charity Registration Number 296454).

The company is established under a Memorandum of Association which sets out the objects and powers of the charitable company The company is governed under its Articles of Association which were last amended on 1 February 2019.

On 1 February 2019 Beanstalk amalgamated with Coram. From this date Coram became the sole member of Beanstalk and Beanstalk became a direct subsidiary of Coram. The company’s name from this date changed to Coram Beanstalk.

Coram Beanstalk operates in line with the group approach with Coram Beanstalk trustees able to participate in relevant sub-committees of the parent trustee board including membership of the Audit Committee by the Coram Beanstalk Treasurer.

As a result of Coram Beanstalk becoming part of the Coram Group, all support functions are provided by Coram (with costs recharged to Coram Beanstalk) and Coram Beanstalk operates according to group-wide policies and procedures. Compliments and complaints are dealt with in accordance with our Compliments and Complaints Policy, which can be found at https://www.beanstalkcharity.org.uk/compliments-and-complaints-policy.

Key management personnel

Key management personnel are defined as the Trustees, the Coram Group CEO, the Coram Beanstalk Head of Service and the Managing Director of Education and Wellbeing. Details of the remuneration of key management personnel and other information on staff costs is set out in Note 5 to the financial statements.

The remuneration of key management personnel is based on an internal assessment of the scope of the individual role and an individual’s performance within that role. Internal benchmarking is conducted to ensure that remuneration levels within the Coram Group are consistent for the level of responsibilities. Remuneration is agreed by the Coram Group Directors consisting of the Chief Executive, Chief Finance Officer and the Director of People and Compliance.

None of the Trustees received any remuneration.

Coram Beanstalk 11

Trustees’ report Year to 31 March 2024

Recruitment and training of trustees

Trustees are appointed via the Coram Nominations Committee for a four-year term which is renewable for one further term. The Chair is appointed by the Coram board from amongst their number. All new Trustees undergo an induction programme which incorporates a history of the charity, review of its work including the current challenges faced by the charity, its governance structure, and their individual roles and responsibilities and have access to development training.

At least one Trustee on the Board is always a trained reading helper. Trustees hold ‘Away Days’ which are held to consider strategic issues and determine future activity. The Trustees maintain a good working knowledge of charity and company law and regularly review their breadth of skills and organisational development needs.

Trustees are also directors for the purposes of company law. The Trustees who served during the period and up to the date on which this report was approved were as follows:

Jill Pay (Chairman) Hanif Barma (Treasurer) Saana Karki Sharon Lambert Philip Nelson Stefano Maifreni

Equality, Diversity and Inclusion (EDI)

We realise that being an organisation that is equal, diverse and inclusive is something to constantly work towards. The commitment to diversity was a strong characteristic in the results of the Investors in People reaccreditation which was awarded at Gold Award standard in 2023, recognising the high level of engagement of staff with strategy and the organisational values, and its leadership. EDI remains a key priority in our development.

Fundraising policy

Coram Beanstalk is part of the Coram charitable group, and fundraising activities are undertaken and assured by the central fundraising department. As the parent charity, Coram is registered with the Fundraising Regulator and adheres to the Fundraising Code of Practice. Our Privacy Policy can be found on our website at www.coram.org.uk/privacy. There were no complaints made to Coram Beanstalk in the year. If you have any comments or concern, please contact fundraising@coram.org.uk.

Coram Beanstalk 12

Trustees’ report Year to 31 March 2024

Statement of Trustees’ responsibilities

The Trustees (who are also directors of Coram Beanstalk for the purposes of company law) are responsible for preparing the Trustees’ Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each of the Trustees confirms that so far as they are aware:

Coram Beanstalk 13

Trustees’ report Year to 31 March 2024

Statement of Trustees’ responsibilities (continued)

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

Approved by the Trustees and signed on their behalf by:

Jill Pay

Approved by the Trustees on 26[th] September 2024

Coram Beanstalk 14

Independent auditor’s report 31 March 2024

Independent auditor’s report to the member of Coram Beanstalk

Opinion

We have audited the financial statements of Coram Beanstalk (the ‘charitable company’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report and Financial Statements, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the Annual Report and Financial Statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Coram Beanstalk 15

Independent auditor’s report 31 March 2024

Other information (continued)

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees’ responsibilities, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Coram Beanstalk 16

Independent auditor’s report 31 March 2024

Responsibilities of Trustees (continued)

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Coram Beanstalk 17

Independent auditor’s report 31 March 2024

Auditor’s responsibilities for the audit of the financial statements (continued) To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Coram Beanstalk 18

Independent auditor’s report 31 March 2024

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Gumayel Miah (Senior Statutory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL

Date: 27 November 2024

Coram Beanstalk 19

Statement of financial activities Year to 31 March 2024

(incorporating the income and expenditure account)

Notes Unrestricted
funds
£		 Restricted
funds
£
Designated
funds
£
2024
Total
funds
£		 2023
Total
funds
£
Income from:
Donations, grants and legacies
1
Charitable activities
. Advancing the education of children
Interest receivable
Other sources
. Coronavirus Job Retention Scheme
Total income
Expenditure on:
Raising funds
. Fundraising activities
Charitable activities
. Advancing the education of children
Total expenditure
2
Net (expenditure)/income and net
movement in funds
4
Transfer between funds
Reconciliation of funds:
Balance brought forward at 1 April
2023
Balance carried forward at 31 March
2024		 289,521
499,429
8,585
—
—
32,786
—
322,307

—
—
499,429

—
—
8,585

—
—
—

—
—
—		 658,090
560,738
2,773
7,706
(625)
797,535
32,786
—
830,321		 1,228,682
89,661
709,683
—
—
89,661

32,786
—
742,469		 108,933
753,714
799,344
32,786
—
832,130		 862,647
(1,809)
68,044
426,324
—
—
(1,809)

—
(68,044)
—

—
257,503
683,827

—
189,459
682,018		 366,035
—
317,792
492,559 683,827

All of the charity’s activities derived from continuing operations during the above two financial periods.

The charity has no recognised gains and losses other than those shown above.

A full comparative statement of financial activities is included in the appendix to these financial statements.

Coram Beanstalk 20

Balance Sheet 31 March 2024

Notes 2024
£		 2024
£		 2023
£		 2023
£
Fixed assets
Investment in subsidiary
6
Current assets
Debtors
7
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due
within one year
8
Net current assets
Total net assets
The funds of the charity:
Restricted funds
9
Unrestricted funds
. General funds
9
. Designated funds
9
Total funds		 143,264
805,393		 5,000
677,018		 146,178
843,325		 5,000
678,827
948,657
(271,639)		 989,503
(310,676)
492,559
189,459		 426,324
257,503
682,018 683,827
—
682,018		 —
683,827
682,018 683,827

Approved by the Trustees of Coram Beanstalk (Company Registration Number 02101719 (England and Wales)), and signed on their behalf by:

Jill Pay Chairman of Trustees Approved on: 26[th] September 2024

Coram Beanstalk 21

Statement of cash flows Year to 31 March 2024

Notes
2024
Total
funds
£		 2023
Total
funds
£
Cash flows from operating activities:
Net cash provided by operating activities
A
Cash flows from investing activities:
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 April 2023
B
Cash and cash equivalents at 31 March 2024
B
(46,517)		 389,517
(46,517)

8,585
389,518

2,773
8,585
2,773

(37,932)


843,325
392,290

451,035

805,393
843,325

Notes to the statement of cash flows for the year to 31 March 2024

A Reconciliation of net movement in funds to net cash provided by (used in) operating activities

activities
2024
Total
funds
£		 2023
Total
funds
£
Net movement in funds (as per the statement of financial
activities)
Adjustments for:
Interest received
(Increase) decrease in debtors
Increase (decrease) in creditors
Net cashprovided by (used in) operating activities		 (1,809)
(8,585)
2914
(39,037)		 366,035
(2,773)
(104,409)
130,664
(46,517) 389,517

B Analysis of cash and cash equivalents

2024
£		 2023
£
Total cash and cash equivalents:Cash at bank and in hand 805,393 843,325

C Analysis of changes in cash and cash equivalents

At 1 April
2023
£		 Cash
flows
£		 Other
non-cash
flows
£		 At 31
March
2024
£
Total cash and cash equivalents:Cash at
bank and in hand		 843,325 (37,932) — 805,393

Coram Beanstalk 22

Principal accounting policies 31 March 2024

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

Basis of preparation

These financial statements have been prepared for the year to 31 March 2024 with comparative information provided in respect to the year ended 31 March 2023.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the Trustees and management to make significant judgements and estimates. The key items in the financial statements where these judgements and estimates have been made include;

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect to a period of at least one year from the date of approval of these financial statements.

The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Coram Beanstalk 23

Principal accounting policies 31 March 2024

Basis of consolidation

Coram Beanstalk is part of a larger group and its ultimate controlling party, Coram, consolidates the financial statements of Coram Beanstalk with its own and those of other group members.

The financial statements of Coram Beanstalk and its subsidiary are not consolidated as its subsidiary, VRH Trading Limited, was dormant in the period and its results are immaterial.

Income recognition

Income is recognised in the period in which the charity is entitled to the income and the amount can be measured reliably and it is probable the income will be received. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor or funder has specified that the income is to be expended in a future accounting period.

Income comprises donations, grants, schools contribution income and interest receivable.

Grants and donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations and grants pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity. Entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having being transferred to the charity.

Schools contribution income is recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be measured reliably. Income is measured at the fair value of the consideration received or receivable. Amounts received in advance are treated as deferred income within creditors.

Coram Beanstalk 24

Principal accounting policies 31 March 2024

Income recognition (continued)

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Volunteers and donated services and facilities

The value of services provided by volunteers is not incorporated into these financial statements.

Where services are provided to the charity as a donation that would normally be purchased from suppliers, this contribution is included in the financial statements as both income and expenditure at its estimated fair value based on the value of the contribution to the charity. There were no such donations during the year.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

All expenditure is stated inclusive of irrecoverable VAT.

Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment.

Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs in respect to its compliance with regulation and good practice.

Support costs and governance costs are apportioned using percentages based on the direct expenditure incurred on the activities of the charity.

Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

Coram Beanstalk 25

Principal accounting policies 31 March 2024

Investment in subsidiary

The charity’s investment in its wholly owned trading subsidiary is included on the balance sheet at cost.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Fund accounting

Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support costs.

Unrestricted funds are donations and other income received or generated for the objects of the charity without further specified purpose and are available as general funds.

Designated funds comprise monies set aside out of unrestricted general funds for specific future purposes or projects.

Pensions

Contributions to employees’ personal pension plans and defined contribution pension schemes are charged to the statement of financial activities when they are payable to the plan or scheme. The charity has no liability beyond making its contributions and paying across the deductions for the employees’ contributions.

Coram Beanstalk 26

Notes to the financial statements 31 March 2024

1 Income from Donations, grants and legacies

Income from Donations, grants and legacies
Donations and grants:
. Anonymous donation
. DHL UK Foundation
. Constance Travis Charitable Trust
. Very Group
. Pears Foundation
. Grants and donations of less than £25,000 each
. Legacy		 2024
Total
funds
£		 2023
Total
funds
£
—
—
50,000
76,400
40,000
123,121
—		 50,000
40,000
50,000
213,954
25,000
206,400
67,736
289,521 653,090

The above table shows unrestricted income only. Restricted income is shown in note 9.

2 Expenditure

Expenditure
Direct
Staff
costs
(note 5)
£		 Other
direct
costs
£		 Support
staff costs
(note 5)
£		 Other
support
costs
(note 3)
£		 Gover
-nance
costs
(note 3)
£		 2024
Total
£
2023
Total
£
Cost of raising funds
Fundraising activities
Charitable activities
Advancing the education of
children		 —
404,557		 68,076
115,491		 9,558
56,801		 10,277
155,220		 1,750
10,400		 89,661
108,933
742,469
753,714
404,557 183,567 66,359 165,497 12,150 832,130
862,647

3 Governance and other support costs

Governance and other support costs
2024
Total
funds
£		 2023
Total
funds
£
Governance costs
Audit fees
Other support costs
Technology costs
Indirect staff costs, including training, travel and subsistence costs
Premises related costs
Consultancy
Other
Intercompany service charge		 12,150 9,600
12,150 9,600
31,422
9,790
8,700
—
30,724
84,861		 38,054
6,292
20,483
1,015
31,105
82,523
165,497 179,472

Coram Beanstalk 27

Notes to the financial statements 31 March 2024

4 Net (expenditure)/ income for the year and net movement in funds This is stated after charging:

2024
£
Auditor’s remuneration – audit fees 12,150
Staff costs
Staff costs were as follows:
Salaries and wages
Social security costs
Pension contributions
Apprenticeship Levy		 2024
Total
funds
£
412,918
33,840
24,140
470,898
18
470,916

The average monthly number of employees on a full-time equivalent basis during the year was as follows:

was as follows:
2024
No.
19
1
20
Services (provision of charitable activities)
Central Office

The number of employees whose remuneration was £60,000 per annum or more (excluding employer’s pension contributions but including taxable benefits) during the period was as follows:

2024
number		 2023
number
£60,001 - £70,000 1 1

Employer pension contributions totalling £6,542 (2023 – £6,738) were made in respect to the above employee during the year.

Key management personnel are defined as the Trustees, the Coram Group CEO, the Coram Beanstalk Head of Service and the Managing Director of Education and Wellbeing.

Coram Beanstalk 28

Notes to the financial statements 31 March 2024

5 Staff costs (continued)

The remuneration of key management personnel is based on an internal assessment of the scope of the individual role and an individual’s performance within that role. Internal benchmarking is conducted to ensure that remuneration levels within the Coram Group are consistent for the level of responsibilities. Remuneration is agreed by the Coram Group Senior Management Team consisting of the Chief Executive, Chief Finance Officer and the Director of Operations.

The total remuneration (including taxable benefits and employer’s pension and national insurance contributions) of the key management personnel of the charity was £66,342 (2023: £65,538).

No Trustee received any remuneration during the year (2023 - £nil). No Trustee (2023 - £nil) was reimbursed for travel expenses.

6 Investment in subsidiary

Investment in subsidiary
2024
£		 2023
£
Investment in VRH TradingLimited at cost 5,000 5,000

The subsidiary, VRH Trading Limited a company incorporated in England (Company Registration Number 02835527), has an allotted share capital of 5,000 ordinary £1 shares of which 4,999 were issued at par to Coram Beanstalk (formerly Volunteer Reading Help trading as Beanstalk). The remaining £1 share is held in trust for the charity. The company was dormant throughout the period.

Details of amounts shown in the financial statements of VRH Trading Limited at 31 March 2024 were as follows:

7
 2024
£		 2023
£
Capital and reserves 5,000 5,000
Debtors 2024
£		 2023
£
School contributions and similar debtors
Amount owed from group undertakings
Other debtors and prepayments		 109,530
17,985
15,749		 129,476
—
16,702
143,264 146,178

Coram Beanstalk 29

Notes to the financial statements 31 March 2024

8 Creditors: amounts falling within one year

Creditors: amounts falling within one year
2024
£		 2023
£
7,165
9,919
8,841
—
16,309
268,442
310,676
Expense creditors
Amounts owed to group undertakings
Taxation and social security
Amount due to schools (refunds)
Other creditors and accruals
Deferred income (see below)		 3,617
—
10,767
8,185
17,150
231,920
271,639

Deferred income relates to school contributions received in relation to the subsequent financial year:

2024
£		 2023
£
89,691
268,442
(89,691)
268,442
At 31
March
2024
£
Balance at 1 April 2023
Amounts deferred in current period
Amounts released to income
Balance at 31 March 2024		 268,442
231,920
(268,442)
231,920
Movements in funds At 1
April
2023
£		 Income
£		 Transfers
£
Expenditure
£
Restricted funds
Liverpool Charities & Voluntary Services
The Symondson fund
French Huguenot Church of London CT
Birmingham and Coventry Trust
Total restricted funds
Unrestricted funds
General funds
Designated funds
. Subsidiary share capital
. Future projects
Total unrestricted funds
Total funds		 —
—
—
—		 2,500
26,486
2,800
1,000		 (2,500)
(26,486)
(2,800)
(1,000)		 —
—
—
—
— 32,786 (32,786) —
426,324
5,000
252,503		 797,535
—
—		 68,044
(799,344)
—
—
(68,044)
—		 492,559
5,000
184,459
683,827 797,535 —
(799,344)		 682,018
683,827 797,535 —
(799,344)		 682,018

9 Movements in funds

Restricted funds

Liverpool Charities & Voluntary Services supports our volunteer reading programmes in schools in the Liverpool area through named funds.

The Symondson Fund supports our volunteer reading programmed in schools in the Preston and Blackpool area.

Coram Beanstalk 30

Notes to the financial statements 31 March 2024

9 Movements in funds (continued)

French Huguenot Church of London CT supports our volunteer reading programmed in schools in the London area.

Birmingham and Coventry supports our volunteer reading programmed in schools in the Birmingham and Coventry area.

Designated funds

Future Projects

Funds to be used for the purpose of investment in training and business development staff resources, over the next three to five years, which will increase the sustainability of the charity.

.

10 Analysis of net assets between funds

nalysis of net assets between funds
Restricted
funds
£		 Un-
restricted
funds
£		 Total
funds
£
Investments
Net current assets
Creditors: payable within one year		 —
—
—		 5,000
948,657
(271,639)		 5,000
948,657
(271,639)
— 682,018 682,018

11 Related party transactions

The financial statements do not include disclosure of transactions between Coram Beanstalk and Coram or any fellow subsidiary entities. As a 100% controlled subsidiary undertaking, Coram Beanstalk is exempt from the requirement to disclose such transactions under Financial Reporting Standard 102 Section 33.

During the period of report, there were no other transactions with related parties (2023: none).

12 Ultimate parent undertaking

The Thomas Coram Foundation for the Children (‘Coram’), a registered charity with Charity Registration Number 312278, is the sole member of Coram Beanstalk.

13 Liability of member

The charity is constituted as a company limited by guarantee. In the event of the charity being wound up, the member is required to contribute an amount not exceeding £1.

14 Taxation

Coram Beanstalk is a registered charity and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

Coram Beanstalk 31

Appendix:

Comparative statement of financial activities Year to 31 March 2023

Notes
Unrestricted
funds
£		 Restricted
funds
£		 2023
Total
funds
£
658,090
560,738
2,773
7,706
(625)
Income from:
Donations, grants and legacies
1
Charitable activities
. Advancing the education of children
Interest receivable
Other sources
. Coronavirus Job Retention Scheme
Total income
Expenditure on:
Raising funds
. Fundraising activities
Charitable activities
. Advancing the education of children
Total expenditure
2
Net income (expenditure) and net
movement in funds
5
Reconciliation of funds:
Balance brought forward at 1 April 2022
Balance carried forward at 31 March 2023
653,090
445,738
2,773
7,706
(625)		 5,000
115,000
—
—
—
1,108,682 120,000 1,228,682
108,933
575,927		 —
177,787		 108,933
753,714

684,860		 177,787 862,647

423,822
260,005		 (57,787)
57,787		 366,035
317,792
683,827
683,827 —

Coram Beanstalk 32

Appendix:

Comparative notes to the financial statements Year to 31 March 2023

2 Expenditure

Expenditure
Staff
costs
(note 4)
£		 Other
direct
costs
£
76,057
152,683
228,740		 Support
staff costs
(note 4)
£		 Other
support
costs
(note 3)
£		 Gover
-nance
costs
(note 3)
£		 2023
Total
£
Cost of raising funds
Fundraising activities
Charitable activities
Advancing the education of
children		 —
366,219		 12,662
65,954		 18,668
160,804		 1,546
8,054		 108,933
753,714
366,219 78,616 179,472 9,600 862,647

9 Movements in funds

Movements in funds
At 31
March
2022
£		 Income
£		 Transfers
£		 Expenditure
£		 At 31
March 2023
£
Restricted funds
Liverpool Charities & Voluntary Services
The Roger & Douglas Turner Charitable
Trust
Pears DCMS Volunteering Futures Fund
ICAP Charity Day
Taylor Family Foundation
Total restricted funds
Unrestricted funds
General funds
Designated funds
. Subsidiary share capital
. Future projects
Total unrestricted funds
Total funds		 —
—
—
45,287
12,500		 2,000
3,000
115,000
—
—		 —
—
—
—
—		 (2,000)
(3,000)
(115,000)
(45,287)
(12,500)		 —
—
—
—
—
57,787 120,000 — (177,787) —
255,005
5,000
—		 1,108,682
—
—		 (252,503)
—
252,503		 (684,860)
—
—		 426,324
5,000
252,503
260,005 1,108,682 — (684,860) 683,827
317,792 1,228,682 — (862,647) 683,827

Restricted funds

Porticus UK funds the Impact on Literacy Levels Comparison Study. This study will evaluate the impact of reading support to children.

Rank Foundation funds the Creating Readers training course for those who wish to support children’s reading development.

John Lyon's Charity funds our London Reading Project. Taylor Family Foundation funds the recruitment and training of volunteers to deliver one-to-one reading support to disadvantaged children in Bromley, Croydon, Kingston upon Thames, Merton and Sutton over the 2021/2022 academic year.

Coram Beanstalk 33

Appendix:

Comparative notes to the financial statements Year to 31 March 2023

9 Movements in funds (continued)

Restricted funds (continued)

ICAP Charity Day funds the development of a pilot maths programme.

Pears DCMS Volunteering Futures Fund funds new volunteer development work in three geographic areas of unmet need and high levels of deprivation, building networks and creating community-specific content.

10 Analysis of net assets between funds

Analysis of net assets between funds
Restricted
funds
£		 Un-
restricted
funds
£		 Total funds
£
Investments
Net current assets
Creditors: payable within one year		 —
—
—		 5,000
989,503
(310,676)		 5,000
989,503
(310,676)
— 683,827 683,827

Coram Beanstalk 34